It's not that I am opposed to helping people who need help.  What I am opposed to is bailing out people who made poor choices. 

What you have in this mortgage mess are 4 types of people.

1)  People who are filthy rich and don't need anyone's help.

2)  People who decided not to purchase a new home and have been in their current homes for 5+ years.

3)  People who took a risk and bought a new home at an inflated price.

4)  People who decided to purchase a home that they couldn't afford.

About 10% of the homeowners fall under category 4.  So...why does this bailout suck?  Because 1, 2, and 3 are paying for 4. 

The rich people, whatever...they'll get by, regardless.  They will barely notice the difference.

2s and 3s, though...the people who are regularly paying their mortgages, whether inflated or not.  The good tax payers who own homes and have done a good job paying for them...we're the ones that get jacked. 

Looking back at the purchase of our current home, I definitely regret paying what we did.  We paid too much.  But, still...paying too much for this house, we continue to regularly pay our mortgage on time.  We have not missed a single payment and the only time we were late was when the baby was born.  That's it.  But...who's coming to bail me out?  I tell you...I would love to have that money back in my pocket.  If I didn't have to pay my mortgage every month, I could afford to buy a new car.  Or, I could afford a nanny.  I could really help stimulate the economy. 

But, that won't happen, because I've been good.  Nobody is going to help me out.  Instead, we're going to help out those "sub-prime" homeowners.  The people who looked at their books and saw that they could afford a $2000/month mortgage and went ahead with the $3000/month loan. 

This pissed me off.  Not to plagiarize from the CNBC guy, but we are rewarding people for making poor choices by doing this.  I don't like it.